- 3 hours ago
LendingPad
Scale lending, not friction. LendingPad gives residential mortgage lenders a modern web‑based LOS that provides automation to standardize complex workflows across all mortgage lending departments. Orchestrate tasks with self-serve business rule creation, streamline services with integrated PPE/POS/CRM/doc vendors/credit/AUS, and leverage real-time reporting and audit trails.
LendingPad
LendingPad is a modern and innovative Loan Origination System (LOS) serving lenders, brokers, bankers, credit unions, and wholesalers with centralized and compliant automated technology tailored to the mortgage industry. Recognized for excellence with the HousingWire's Tech100 award, LendingPad streamlines the entire mortgage lending process while reducing operational costs. LendingPad is a proud member of the National Association of Mortgage Brokers (NAMB), the Mortgage Bankers Association (MBA), ACUMA, Lenders One, and the MISMO organization.
Scale lending, not friction. LendingPad gives residential mortgage lenders a modern web‑based LOS that provides automation to standardize complex workflows across all mortgage lending departments. Orchestrate tasks with self-serve business rule creation, streamline services with integrated PPE/POS/CRM/doc vendors/credit/AUS, and leverage real-time reporting and audit trails.
LendingPad
LendingPad is a modern and innovative Loan Origination System (LOS) serving lenders, brokers, bankers, credit unions, and wholesalers with centralized and compliant automated technology tailored to the mortgage industry. Recognized for excellence with the HousingWire's Tech100 award, LendingPad streamlines the entire mortgage lending process while reducing operational costs. LendingPad is a proud member of the National Association of Mortgage Brokers (NAMB), the Mortgage Bankers Association (MBA), ACUMA, Lenders One, and the MISMO organization.
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TechTranscript
00:05Welcome to HousingWire's Demo Day on Demand. I'm Alison LaForgia, and this is where we
00:11spotlight the most innovative technology companies in mortgage, giving our audience a front row seat
00:16to real product demos. In this session, we're featuring LendingPad. LendingPad is a modern
00:21and innovative loan origination system servicing lenders, brokers, bankers, credit unions,
00:27and wholesalers with centralized and compliant automated technology tailored to the mortgage
00:32industry. Recognized for excellence with the HousingWire's Tech 100 Award, LendingPad streamlines
00:39the entire mortgage lending process while reducing operational costs. LendingPad is a proud member of
00:46the National Association of Mortgage Brokers, the Mortgage Bankers Association, ACUMA, LendersOne,
00:53and the MISMO organization. In this demo, Brandon will be taking us through LendingPad. Brandon,
00:58the floor is yours. Hello, everyone, and thank you for joining us today. My name is Brandon Edwards,
01:04and I'm a product solutions manager here at LendingPad. I'm excited to introduce the platform,
01:10a web-based loan origination system designed to simplify and streamline the mortgage lending process
01:15from application through closing. And during today's demo, I'll walk you through some of the
01:20platforms' key capabilities, including loan origination, automated workflows, document management,
01:26disclosures, compliance tools, and reporting. I'll also demonstrate how LendingPad helps lenders
01:31improve efficiency, enhance collaboration across teams, and provide a seamless experience for borrowers
01:37and lenders. So let's dive in. Starting with your dashboard, where users start their day, you'll see
01:43a welcome with your name. Just beneath that, you'll see any tasks that are presently assigned to you.
01:49And looking at our task, we'll be, as a user, we can simply click on a number count here. At
01:55first,
01:55we can see that we have one overdue task and two tasks that are due today with a total of
02:00three tasks.
02:01So we'll just simply select that number three, and selecting it, we'll see all of the tasks that we
02:07have to complete. In reviewing the task, our first task is to review the loan application.
02:12If we've already completed the task, we can simply clear it here. And if not, we can access the loan
02:19by
02:19selecting the loan number, and then heading over to the task section to complete the task.
02:25We'll just click on the task here, and we can see the tasks that are assigned to us.
02:30Same process, we can select edit to review the task in full, or we can close it after completion.
02:36So we'll just take a quick review of our application, confirming the information is correct.
02:45And if that satisfies the task, we'll just go ahead and close that task out.
02:50So we've completed that task, and now heading back to our dashboard, we can instantly see we only have
02:55two tasks remaining, of which the two tasks are due today. To the right of your task, you'll have your
03:01trick compliance modules, being your 3, 10, and 30-day modules. Within your 3-day module, these will be
03:07files that are application taken, and you need to send, and you sent the LE out. You have three days
03:12to send the LE. Your 10-day module, this is the files for which the LE has been sent, and
03:17you're just
03:17waiting on the intent to proceed to be completed by the consumer. Your 30-day module, this is essentially
03:22your credit module, or your ECOA module, where you need to make a decision, a credit decision, within 30 days
03:28of the application. And then you'll also have your prepare and track back CD module. Your prepare CD
03:33module, this will house any files that have a schedule to close date, but you have not sent
03:36the CD. Whereas your track back CD module, this will monitor files for which you've sent the CD,
03:41but you have not received the CD back from the consumer. And last but not least, we'll have your
03:46sale module. And this module will house any files that are not in a closed or finalized stage, and have
03:52not been modified within the last 30 days. Scrolling down just a little, you'll also
03:58have full access to your active pipeline as well. So let's dive into a loan. We'll simply select that
04:04loan number here. The top section, this will be your data eligibility items, starting with the loan
04:10status, the loan number, and the borrower's information. We can see this is a purchase transaction
04:15of a primary residence, our LTV, credit score, interest rate, and DTI as well. Within our theme section,
04:23you'll be able to configure your color coding to visually stand out for users to take action.
04:29And in this example, we're using essentially a stoplight method where green is good, yellow,
04:33you may want to slow down to take action, and then red, you definitely want to stop to take action.
04:40So within your overview screen, you'll have access to your borrower's information,
04:43your subject property, your assignment section. This is where you would assign any users to the file.
04:48And then your loan information will be available within the terms of mortgage. Once again, for your
04:53loan application, this will primarily be your PII information from the borrower that's completed
04:58within the POS. Your date section, you'll have two sections, one for your critical dates. Entering
05:07dates in your critical dates will update the loan status. And then you'll also have processing dates
05:11dates to monitor any internal actions that are taken on the file. Within our actions menu, we have a
05:19great number of integrations. So if you wanted to run credit, flood, appraisals, all of that would be
05:25completed here in this section. And then on our disclosure screen, you'll have the ability to update
05:31any of your fees along with the paid two party. So you'll be able to update the fee here. You
05:37can also
05:38update the paid two party by selecting the drop down here. Once you're all set with your fees,
05:47you'll have the ability to generate a fees worksheet ahead of your LE
05:55to present to the consumer. So at a glance, your consumer, they'll know the total amount needed to
06:01close along with the total monthly payment. Your scenario section, this will give your loan officers
06:10the ability to compare up to four loan scenarios at a time. Your current loan scenario will always
06:16populate here in the left column. And then you'll have the ability to add three additional scenarios.
06:21And in this example, the consumer is wearing the option of putting either a three and a half percent
06:26down payment or a 10% down payment. So you'll notice the consumer would like comparisons for
06:32a conventional 30-year mortgage with the option of a three and a half percent or a 10% down
06:37payment.
06:37Same thing for FHA. They're looking into an FHA 30-year mortgage, but they're wearing the option
06:42of putting a three and a half percent down payment or a 10% down payment. So at a glance,
06:48you'll be able
06:48to provide the consumer with their total payment, their total interest, along with their interest savings.
06:54You'll also have the ability to generate the form for the consumer, and you'll be able to send this
07:01over to them as well. And once again, this will include their total monthly payment, their total
07:06interest, and interest savings at a glance. In the event the consumer elects to a different scenario,
07:13you can simply select apply scenario to update the loan. Within our underwriting conditions section,
07:19this is where your underwriters can go to add any single conditions. They'll add any individual conditions
07:24in this section. They'll also have the ability to add any batch conditions. They'll just select from
07:29the pre-configured batches for one of the batches, and then they'll have the ability to select all
07:35or manually select the conditions they would like to add from that batch.
07:40Your document section, this will give you the ability to upload any documents.
07:45You can drag and drop or select the files from your computer, and then you'll also have the ability
07:50to take document operations, whether you'd like to merge, download, archive, or send any documents.
07:58You'll have a notes section. This is for any internal communication. You'll just select add notes to add
08:04any information here. And then your audit section, this will monitor any changes within the system down
08:10to the date, minute, and second. So you'll be able to see who made the change, when that change occurred,
08:15and what area of the system the change occurred in. So one of our most powerful areas of the platform
08:21would be our business rules engine. And this will give you the ability to configure any automation
08:27within the platform. You'll have the ability to automate any underwriting tasks, any underwriting
08:33conditions, any loan tasks. You can send an action request. You can automate any notifications to go out.
08:39That would be any status updates or email alerts. You'll also have the ability to populate any values
08:44within the LOS. And then our validation business rules. That'll give you the ability to configure
08:50any hard or soft stops within the LOS. Reporting is another amazing feature that we have available.
08:59The reports you will, the LOS comes with over 75 reports standard. That'll include the, your reports
09:06such as your Honda report, your NMLS call report. You'll also have the ability to create manual reports.
09:11You'll just select create report, give that report a name, add a few, add your filter,
09:17and then any fields you'd like to include. Along with the ability to create any custom reports,
09:23you'll also be able to have any reports auto emailed. To do so, you would just select the icon to
09:30the left
09:30of that report to use that email scheduler. And then within the report, you can select if you
09:36prefer to receive that report daily or weekly, along with the times of day and the days of the week,
09:42if the weekly option is selected.
09:46So let's take a look at the system from the borrower's perspective.
09:51So the LOS, the POS is also included. The consumer, they'll simply start at their loan and property screen.
09:59First, they'll be on their general tab and then they'll select the purchase, the purpose of the transaction,
10:04and then enter the amounts here along with their down payment.
10:08And then they'll just go from the top down entering their information. They'll have the ability to add
10:14up to five borrowers to the file by adding their first, last name, email address, and mobile phone number.
10:21We have a really cool feature in this question. The last question you'll notice, it says,
10:26would you prefer to enter the borrower's information yourself? If you select yes, you'll have the ability
10:30to complete the application for the co-borrower. And selecting no, this will trigger our split
10:35borrower functionality, which works well in the event there's ever siblings on a file or parent-child
10:40relationship. And they would prefer that each other not have access to their financial information.
10:44So that'll send a separate link for them to complete their application and upload any documents.
10:51Once again, the consumer, they'll just go through each section, adding their income,
10:54assets, real estate owned, completing their declarations by simply selecting yes or no.
11:00And then we have another really cool feature within the POS. You'll have the ability to ask the
11:06borrowers any questions. You can configure the questions to be a list, a table, a free form box,
11:12or a Boolean style, which would present a yes or no option for the consumer. You'll also have the ability
11:18to request any documents. So in this example, these are the five documents or needs that we need from
11:24the borrower. So as a consumer, they'll simply go in and they can upload any documents to this section.
11:30So let's say for example, if we wanted to upload any documents, we'll head over to our documents section
11:37and we'll start adding those bank statements. So we see that we need two months bank statements.
11:42We've added our first month and then we'll go ahead and add our second month.
11:48Same process for your W-2s. The consumer can simply upload them.
11:55And then let's say that consumer for the tax return, if they're waiting for that tax return,
12:00they can simply let you all know. So let's say in this example, if the consumer wants to let you
12:04all
12:05know that they've contacted their CPA and they should have them by the end of the week, they can
12:09simply type that message and then they can send that message over to you. So the process would be
12:15the same for any additional documents. And then I'll give you all a quick glance at how that will look
12:20within the LOS for your users. They'll simply access that loan. And this is the borrower needs feature
12:28that I was speaking about earlier. They'll come over to borrower needs and immediately they can see the
12:34documents that need review. So with the two months bank statements, they can actually review the
12:40documents. Reviewing the documents, they'll have the ability to approve or reject them. So we'll say
12:45this one meets our requirements. We'll approve that one and then we'll go ahead and approve this other
12:50document as well. So once the documents are approved, we can approve this need as well.
13:03And now we can look and we see that we've received a message from the consumer. So we'll just select
13:08that message. And they said, I've contacted my CPA. I should have my returns by Friday. You'll be able
13:13to respond to them as well. Thank you for the update. We look forward to receiving your documents.
13:29Within this borrower needs section, you'll also have the ability
13:32to reject any documents if they do not meet the requirements. So let's say in this example,
13:38we are requesting two years of W-2s. We notice we've received one year.
13:45So we can simply reject this document here and then we'll populate a reason.
13:54Thank you for sending your 2024 W-2. Please send your 2025 W-2.
14:02So now the consumer knows exactly what's expected of them.
14:09Heading back to the POS, from the borrower's perspective, once again,
14:16we can see instantly that our W-2 condition has been rejected. So we'll take a look at the details.
14:22Thank you for sending your 2024 W-2. Please send your 2025 W-2 as well. So now the consumer,
14:29they can say, oh, maybe they made a mistake and forgot to upload both W-2s.
14:33So now they can add that other W-2.
14:38And now at a glance, they'll know as far as their tax returns,
14:41that your internal team would be looking to receive those documents.
14:44So this really cuts down on the back and forth communication, allowing you all to close files
14:50faster. And then what I really like to wrap up with is the core of LendingPad. And that would be
14:56our support and training. We like to think of it as your system is only as strong as the support
15:02behind it. So within our platform, support is always just one click away. And this support is
15:07available to all users within the platform. This is not restricted to a system administrator.
15:12Every user from your loan assistant to your underwriters, processors, loan officers,
15:17everyone will have this access. So if there's ever a time, if you have a question, you can always chat
15:24us. We also have a support tab here, which includes a knowledge base that'll allow you to research any
15:30questions. You can search for your questions here. And then we also offer a live support. And that live
15:36support will give you the opportunity to join a live Zoom session where you can share your screen
15:41with any of our users. And we'll walk you through any issues that you're experiencing. Once again,
15:46with the chat support as well, this would be with live US-based agents. This would not be with any
15:52bots or AI features. This would be with a live agent, a one-on-one chat. And then our training,
15:59we also offer recorded and live training sessions for your departments. So this really helps to get your
16:06users up to speed and ensure that they're comfortable within the platform. So in short,
16:10the platform brings together your workflow automation, compliance monitoring, and reporting
16:15in a single web-based LOS.
16:17Brandon, thank you so much for taking us through LendingPad. Let's jump into some questions.
16:23Absolutely.
16:24Mortgage origination is often fragmented across systems and stakeholders. How does LendingPad bring borrowers,
16:31lenders, and service providers together in one workflow? I think our borrowers needs would be a
16:38great answer to that. We noticed a lot of the bottlenecks within our process was at the beginning
16:44when we were in communicating with the consumer on what documents to provide or what may be needed.
16:50Or a consumer may think that they've sent one document, but we need the additional page. Or they
16:56sent a screenshot, but we need to see the URL. So you can communicate specifically with that consumer,
17:02letting them know exactly what's needed. Another cool feature is within the LOS. Once this file,
17:09once the consumer saves on the first screen, that file will be available in the LOS for any assistance
17:13as well. So we've noticed drastic reduction in turn times due to those two features.
17:19Which parts of the loan origination lifecycle seem to see the fastest impact once a team
17:26adopts LendingPad? I think the origination team specifically. I didn't have the chance to
17:32present that section, but we have a cool feature for our loan officers. We have six quick links that
17:37will pretty much allow them to, they can email a consumer, generate a pre-approval letter, manage
17:42order credit, run AUS, all within one section. So within one small section, the loan officer is
17:48extremely efficient with their clicks. And how does LendingPad reduce manual data entry and handoffs
17:54while keeping loan data consistent and up-to-date across all parties? We use our business rules to
18:01keep, to ensure that our loan data is consistent across the board. You'll have the ability to,
18:06along with our automation. So within our business rules, you can automate a lot of your processes.
18:11You'll also be able to set stops and warnings within a system to ensure that users are not
18:16completing or taking any actions that they shouldn't take on the file. Brandon, thank you so much for
18:22joining me today. To our audience, for more information about LendingPad, click the link below.
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